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CURRENT Newsletter | July 18, 2023

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League Monitoring Senate Debate on NDAA for Possible Inclusion of Fiercely Opposed Interchange Bill

The U.S. Senate this week is debating its version of the National Defense Authorization Act and your League is closely monitoring any moves to attach the fiercely opposed interchange bill to the must-pass NDAA. In a letter today to Sens. Warner and Kaine, we urged them to oppose any effort to include interchange language in the NDAA or to include another amendment calling for the study of interchange fees paid at military commissaries and exchanges.

Member Expulsion Rule on NCUA Board’s July 20 Agenda

The NCUA Board will vote at its July 20 board meeting on a final credit union bylaws rule that updates the member expulsion process. League President/CEO Carrie Hunt will attend the meeting in person. "Your League was engaged with the agency on this rule throughout the comment process, starting even prior to the issuing of the proposal, knowing that our credit unions view this as a vital safety measure for members, staff and boards," said League President/CEO Carrie Hunt.

GROWTH Conference: How Embedded Finance is Shaping Financial Services

While credit unions face the threat of disintermediation in the face of the new embedded finance value chain, this shift also offers us a tremendous growth opportunity. Embedded finance services allow almost any business to manage and market innovative financial services. Companies – even those outside traditional financial services -- can now seamlessly integrate banking products such as payment, debit, credit and insurance into end-user experiences. Join us at the GROWTH Conference (Sept. 20-22, Virginia Beach) to learn how embedded finance meets the needs of members today and how credit unions can identify the opportunities that will allow them entry into this new value chain.

Richmond-Area EPN Event Slated for July 19

The League’s Greater Richmond Emerging Professionals Network is hosting a networking event on July 19, starting at 6 p.m. Location: Trapezium Brewery Co. (Petersburg). The event is free to attend, but we ask that you register to aid us in planning.

#iLoveMyCreditUnion Social Media Campaign Set for July 28

It's back! The 3rd annual credit union social media blitz, the #ILoveMyCreditUnion initiative, is set to take place on July 28. #ILoveMyCreditUnion Day is an opportunity to share on social media why you love credit unions using the hashtag #ILoveMyCreditUnion. Sign up today and encourage your members and staff to share their stories on July 28!

TRGroup, Virginia League Plan Compliance, HR Conferences This September

The TRGroup Compliance and Risk Management Conference & the TRGroup Human Resources Conference, are being held jointly Sept. 27 and 28 in Nashville, Tenn. Just added to the Compliance Conference session lineup: FCRA Compliance (David Reed, Reed & Jolly PLLC); Payment Systems Compliance (Roger Nettie, Regional Electronic Payment Systems Specialist with NCUA); NCUA Part 748 Incident Response (Josh Walton, Regional Information System Office with NCUA); 2023 Compliance Hot Topics (Jamin Carlisle, AUX); and Key Audit Findings in Compliance Audits (Marcus King, CU Audit & Compliance Group). TRGroup is a partnership of your League and six of our fellow state credit union associations.

TRGroup, Virginia League Hosting 2nd Annual Women's Conference

Join us in Pensacola, Fla., Oct. 16-17, for the 2nd Annual Women’s Leadership Conference presented by The Raiffeisen Group (TRGroup). This conference brings together female leaders in the credit union movement from seven states to discuss topics most relevant to our development and growth.

NCUA to Host Aug. 2 Webinar on New Cyber Incident Reporting Rule

Credit unions can get valuable information on the National Credit Union Administration’s new cyber incident notifications rule on an Aug. 2 webinar hosted by the agency.

In Other News ...

Tags: NDAA, interchange, credit cards, Durbin Amendment, Mark Warner, Tim Kaine, member expulsion, NCUA, NCUA Board, GROWTH Conference, embedded finance, EPN, Emerging Professionals Network; ILoveMyCreditUnion, TRGroup, Compliance Conference, Human Resources Co


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